Sen. Bernie Moreno (R-OH) called the record fundraising haul of the Democrat running against Texas Attorney General Ken Paxton (R-TX) “mind blowing,” then warned of diminishing returns.
Semafor congressional bureau chief Burgess Everett reported Moreno’s remarks Thursday on X after Paxton’s opponent, state Rep. James Talarico (D-TX), raised $64 million from July through September, the largest third-quarter haul on record for a U.S. Senate candidate.
“Holy crap,” Moreno said of Talarico’s haul, according to Everett.
“I don’t even know how you raise 64 million dollars in a quarter. I mean, that’s a number that’s mind-blowing,” the Ohio Republican continued.
“[Y]ou do get to a point of diminishing returns, in my opinion,” Moreno added.
Ninety-seven percent of Talarico’s third-quarter donations were under $100, his campaign said in a news release, according to the Tribune.
“Grassroots contributors from across Texas are coming together to end billionaire control over our politics and bring down costs for working families,” Talarico said, according to the Tribune.
Talarico’s haul is more than triple the $18 million Paxton raised in the same three months, Paxton’s strongest quarter by far, the Tribune reported.
Talarico has raised more than $134 million since launching his campaign over a year ago, money that has helped him withstand a wave of Republican outside advertising this fall, the outlet said.
Past Texas Democrats raised far less in the same quarter: former Rep. Colin Allred raised $30 million in 2024, and former Rep. Beto O’Rourke raised $38 million in 2018, the Tribune reported.
SpaceX CEO Elon Musk has spent roughly $366 million this election cycle, including $276 million since July to help Moreno’s fellow Republicans keep control of Congress.
Musk’s third-quarter giving alone is more than four times Talarico’s haul. It includes $158 million to the Senate Leadership Fund, a super PAC set up to elect Senate Republicans, and $10 million to Lone Star Liberty PAC, which is backing Paxton, Reuters reported.
Moreno benefited from Musk’s money in his own 2024 race against then-Sen. Sherrod Brown, an Ohio Democrat, according to Crain’s Cleveland Business.
In the first weeks of that October, two super PACs Musk helped fund, the Senate Leadership Fund and the Sentinel Action Fund, spent about $2.9 million supporting Moreno, the outlet reported.
Moreno has also moved to lock down support for a bid to chair the National Republican Senatorial Committee, the campaign arm of Senate Republicans, for the 2028 cycle, Everett reported for Semafor in February.
Moreno serves as the committee’s vice chair, and Senate Republicans will vote on the chairmanship after the midterms, Semafor reported.
“He’s a machine. He is always working. He’s an incredible fundraiser,” Sen. Jim Banks (R-IN) said of Moreno in February.